National Bank of Canada FI Purchases 118,760 Shares of Eldorado Gold Co. (NYSE:EGO)

National Bank of Canada FI grew its holdings in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 22.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 638,338 shares of the basic materials company's stock after purchasing an additional 118,760 shares during the period. National Bank of Canada FI owned approximately 0.31% of Eldorado Gold worth $11,089,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Maverick Capital Ltd. lifted its holdings in shares of Eldorado Gold by 17.1% during the third quarter. Maverick Capital Ltd. now owns 99,439 shares of the basic materials company's stock valued at $1,727,000 after purchasing an additional 14,545 shares in the last quarter. Mudita Advisors LLP bought a new position in Eldorado Gold during the 3rd quarter valued at about $1,956,000. Freedom Investment Management Inc. purchased a new stake in Eldorado Gold in the third quarter worth approximately $555,000. BNP Paribas Financial Markets raised its stake in Eldorado Gold by 130.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company's stock valued at $2,885,000 after buying an additional 94,040 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Eldorado Gold by 55.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 264,111 shares of the basic materials company's stock valued at $4,592,000 after buying an additional 94,676 shares during the period. Hedge funds and other institutional investors own 69.58% of the company's stock.

Analysts Set New Price Targets

EGO has been the subject of a number of research reports. StockNews.com cut Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. TD Securities reduced their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a "hold" rating for the company in a report on Monday, November 4th. Scotiabank lifted their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a "sector perform" rating in a research note on Monday, August 19th. Finally, Royal Bank of Canada increased their target price on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $20.88.

Eldorado Gold Price Performance

Shares of NYSE:EGO traded up $0.59 during mid-day trading on Wednesday, reaching $17.24. The stock had a trading volume of 899,420 shares, compared to its average volume of 1,496,410. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The company has a market cap of $3.53 billion, a P/E ratio of 12.43 and a beta of 0.93. Eldorado Gold Co. has a 1 year low of $9.72 and a 1 year high of $19.06. The business's 50 day moving average price is $16.77 and its 200 day moving average price is $16.53.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The firm had revenue of $331.76 million during the quarter. During the same quarter last year, the firm posted $0.17 EPS. Research analysts expect that Eldorado Gold Co. will post 1.41 EPS for the current fiscal year.

Eldorado Gold Company Profile

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.